Oil eases, but wards off stocks-style turbulence

Written by Reuters and Published on CNBC.com

Oil fell for a third day on Tuesday, as a rout in global equities triggered losses across bonds, cryptocurrencies and commodities, although the crude price is in positive territory so far this year.

Even with Wall Street stocks posting their largest one-day fall since late 2011 on Monday and measures of volatility spiking to multi-year highs, reflecting heightened investor nervousness, oil has not suffered to the same extent.

Brent crude futures were down 35 cents on the day at $67.27 a barrel by 0921 GMT, still up 1 percent so far in 2018. U.S. West Texas Intermediate (WTI) crude futures eased by 25 cents to $63.90.